Literacy and strategic marketing to raise public awareness using Sharia pawnshops during the COVID-19 pandemic

Budi Sukardi, Novia Rachmadani Wijayanti and Fachrurazi Fachrurazi

Qualitative Research in Financial Markets, 2023, vol. 17, issue 3, 473-492

Abstract: Purpose - The purpose of this study is to reveal empirical facts that literacy and marketing strategies effectively impact people using Sharia pawn products during the COVID-19 pandemic because of the pressure of capital needs and financial difficulties. Design/methodology/approach - This study used an exploratory qualitative research approach through semi-structured interviews with six partners of different productive ages and social, economic and educational backgrounds. After data reduction, presentation, description and validation, this paper develops the theory and presents it as a qualitative thematic analysis. Findings - The findings of this study revealed that those who had socialised Sharia pawnshops had a low literacy level. Nonetheless, the socialisation of Sharia pawnshops increases literacy and public understanding of pawnshop products in Sharia pawnshops. This issue arises because of the COVID-19 pandemic, which makes it impossible for Sharia pawnshops to hold an event or socialise. Originality/value - The authenticity of this study proves that literacy and marketing strategies can increase public awareness of Sharia pawn products during the COVID-19 pandemic.

Keywords: Literacy; Strategic marketing; Public interest; Pawn products; Sharia pawnshops (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:qrfmpp:qrfm-12-2021-0205

DOI: 10.1108/QRFM-12-2021-0205

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